Economic Management in a Hyperinflationary Environment: The Political Economy of Zimbabwe, 1980-2008

Content: Cover
 Economic Management in a Hyperinflationary Environment"" The Political Economy of Zimbabwe, 1980-2008
 Copyright
 Acknowledgements
 Contents
 List of Figures
 List of Tables
 List of Contributors
 Introduction
 Chapter 1: The Political Economy and Evolution of Development Policy in Zimbabwe
 1.1 Background
 1.2 From Rhodesia to Zimbabwe: Statism, Destabilization, and Racialist Political Economy
 1.3 Evolution of Zimbabweś Macroeconomic Policies, 1980-2008
 1.3.1 Pre-liberalization Period, 1980-90
 1.3.2 The First Phase of the Economic Structural Adjustment Programme (1991-95). Trade `LiberalizationD́omestic Deregulation
 Financial Sector and Monetary Policy Reform
 Fiscal Policy and Tax Reform
 1.3.3 The Zimbabwe Programme for Economic and Social Transformation
 1.3.4 Millennium Economic Recovery Programme
 1.4 The Pursuit of Ineffective Macroeconomic Policies
 1.5 Costly Political and Policy Decisions
 1.6 Structure of the Book
 References
 Part I: Overview of the Crisis
 Chapter 2: Pre-Crisis Macroeconomic Performance and Triggers of the Economic Crisis in Zimbabwe
 2.1 Introduction
 2.2 Zimbabweś Pre-crisis Macroeconomic Performance
 2.2.1 Real Economic Growth. 2.2.2 Fiscal Performance2.2.3 Money Supply Growth
 2.2.4 Inflation
 2.2.5 Revenue Productivity of the Tax System
 2.2.6 Total Debt
 2.2.7 Exchange Rates
 2.2.8 Balance of Payments and International Reserves
 2.2.9 Employment
 2.3 Literature Review on Determinants of Economic Growth
 2.3.1 Indicators of Macroeconomic Uncertainty
 2.3.2 Structural, Political, and Institutional Variables
 2.4 Models to Explain Zimbabweś Economic Crisis
 2.4.1 Regression Model
 Initial GDP per capita
 CPI inflation
 Government consumption and budget deficit (per cent of GDP)
 Savings ratio
 M2/GDP (lagged). Degree of opennessRule of law
 Dummy
 2.4.2 Policy Index
 2.4.3 Moderation Model
 2.5 Presentation of Results
 2.6 Discussion
 2.6.1 Economic and Economic Policy Variables
 2.6.2 Structural, Political, and Institutional Variables
 Rule of law
 Drought
 2.7 Conclusions
 References
 Part II: Productive Sector Performance
 Chapter 3: Response of the Manufacturing Sector to the Zimbabwe Economic Crisis
 3.1 Introduction
 3.2 Manufacturing Sector Growth under Economic Crises: A Literature Review
 3.3 The Zimbabwe Manufacturing Sector before Hyperinflation. 3.3.1 Policy Framework Governing the Sector3.3.2 Some Performance Indicators before Hyperinflation
 Manufacturing sector contribution to GDP
 Level of production and wages
 3.4 The Advent of Hyperinflation and Implications
 3.4.1 Performance Indicators under Hyperinflation
 3.4.2 Manufacturing Sector Contribution to GDP
 3.4.3 Capacity Utilization
 3.4.4 Manufacturing Value Added Per Head
 3.4.5 Manufactured Exports
 3.4.6 Manufacturing Sector Output Growth
 3.5 Challenges Experienced by Manufacturers
 3.5.1 Lack of Foreign Currency
 3.5.2 Unavailability of Raw Materials.